Gold Technical Analysis May 29, 2023
The Gold rose 0.28% against the USD on Friday and closed at 1946.65. Today in the European session, while the Gold technical Analysis May 29, 2023, is prepared at 5:15 GMT, the XAU/USD is trading at 1956.00, which is 0.03% lower than Yesterday’s close.
The Gold is expected to find support at 1940.00, and a fall-through could take it to the next support level of 1937.00. The pair is expected to find its first resistance at 1948.00, and a rise-through could take it to the next resistance level of 1956.00. Today’s expected trading range is between 1914.00 support, and 1964.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1940.00
Support 2: 1937.00
Support 3: 1914.00
Important resistance levels:
Resistance 1: 1948.00
Resistance 2: 1956.00
Resistance 3: 1964.00